Azim Premji, one of India’s wealthiest individuals and a leading figure in the tech world, has made a significant investment in Wipro, one of the country’s top software services companies. As of 2024, Premji holds a real-time net worth of $12.3 billion, ranking 190th on the Forbes Billionaires list.
Premji Invests ₹4,757 Crore in Wipro
Premji’s private equity firm, Premji Invest, acquired a 1.6% stake in Wipro for ₹4,757 crore through an open market transaction on November 8. The shares were bought at an average price of ₹560 each, amounting to 8.5 million shares. The purchase was made via Prazim Trading and Investment Company Pvt Ltd, a subsidiary of Premji Invest. Additionally, Premji’s associated entities, Prazim Traders and Zash Traders, sold over 8.5 crore shares of Wipro in the same transaction.
Premji’s Continued Commitment to Wipro
Wipro, based in Bengaluru, has a market capitalization of ₹2.97 lakh crore as of November 8, solidifying its status as a leading IT firm in India. This investment highlights Premji’s ongoing belief in Wipro’s growth potential and his continued influence in the tech industry.
Premji’s Philanthropy and Legacy
Beyond his business achievements, Azim Premji is well-known for his philanthropy, having pledged a significant portion of his wealth to charitable causes. His latest investment in Wipro further strengthens his long-standing relationship with the company and reflects his ongoing commitment to India’s tech sector.
